Question
CPA Journal style article on the following: Accounting Standard Update # 2017-04 Intangibles Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment The
CPA Journal style article on the following:
Accounting Standard Update # 2017-04 Intangibles Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment
The article must contain:
(i) a relevant photograph, title and author
(ii) an explanation of how the new rule fits into overall standards and guidance: Does it replace an old standard? If so, why? Does it add to an existing standard? Is it completely new?
(iii) a discussion of when the standard was implemented and for which types of firms. Discuss scope exceptions if there are any.
(iv) a clear description of the accounting standard (you may focus on a small portion of a standard). This must be ENTIRELY original writing and should explain in simpler terms the language used in the ASU. If you use any direct language from the ASU, it must be in quotations. Provide at least one exhibit to enhance your explanations and exposition.
(v) an example with sample journal entries.
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